HSB Principles of Business Final Review

Producers respond to consumers' increased demand for a product by

One way that competition helps to build a prosperous society is by

A popular product is said to be

The business function responsible for computer systems, data collection, and system integration

Which of the following government actions is most likely to stimulate the economy:

The business function responsible for recruiting, hiring, traing and coaching employees is

In economics, the term capital goods includes

One reason that a U.S. company would decide to offer its products in other countries is

A reason that some U.S. businesses have moved some of their operations to foreign countries is

A manufacturer is a type of business that

A main reason that environmental scanning is important is so that businesses can be aware of

A form of business ownership when two or more people share the risk, cost and needed skills

Which of the following is a benefit of international trade

Changing a good's form involves which of the following:

Using a stream to supply water to a field in order to grow crops is an example of using

Why should a business practice good ethics?

Which of the following is a true statement about business ethics and the law:

Which of the following is a potential problem in market economies?

A characteristic of human wants is that they are

One of the freedoms provided to individuals by the private enterprise system is

Why are entrepreneurs important in a private enterprise system?

The business function responsible for safety, on-time delivery, shipping, and manufacturing

Which of the following economic resources is responsible for combining the other resources

Which of the following are qualities of monopolies:

How does the trend towards protecting the environment has a negative effect on many businesses?

If expenses are greater than income, there's no

Why it is important for businesses to identify and respond to current business trends

Private enterprise is based on the idea that everyone is better served when

What happens when there is a shortage of skilled workers

The business function responsible for promoting, selling, pricing and advertising

In a communist command economy who decides how the economic questions will be answered?

If a good or service is scarce, consumers will usually be   

A business that fails to protect its employees from safety hazards on the job may be sued for

What type of property is a business protecting when it registers its trademark?

When businesses analyze where customers live and their ethnic backgrounds they are using

Which activities are likely to increase a firm's profit?

A computer use by the Accounting Department is this kind of economic resource

Consumers are typically most willing to pay more for goods and services that bring them greater

Which of the following factors has aided the most in creating a global business environment:

Which of the following is a disadvantage of market economic sytems:

The business function responsible for planning, staffing, organizing, directing, & coordinating

What determines whether an economic product is an industrial product or a consumer

Most businesses put their greatest competitive efforts into competing

The business function responsible for buying supplies at the lowest price

The business function responsible for producing monthly, quarterly and annual reports is

Two ways that governments impact business are

It is important for businesses to be concerned with their on-line customers'

One reason a physicians' practice might form as a Limited Liability Partnership  (LLP)  is to

Offering high quality, large assortments, and free shipping are examples of

Government owns the basic means of production with some private ownership of businesses under

Lack of economic growth is a major problem for 

A situation that might make businesspeople from other countries feel uncomfortable

A socially responsible business will attempt to give customers

An alternative resource to use in place of a nonrenewable natural resource:

Which change provides the most time utility for a consumer?

Nonverbal communication that might have a different meaning other parts of the world:

A nation that imports more than it exports maintains a